MEPs ready to set their stamp on euro coins

Date: 23/10/1997

By Chris Johnstone

MEPs will take a decisive step next week to put their mark on the face of the euro when they vote on proposed changes to the design and content of the coins.

The European Parliament's influential economic and monetary affairs committee will vote next Tuesday (28 October) on a raft of last-minute amendments, mostly aimed at changing the shape and metal content of the single currency coins.

World-wide metal markets and companies are following developments closely, with orders for hundreds of tonnes of metal depending on the outcome of the EU institutions' deliberations.

Amendments proposed by the Parliament's monetary subcommittee, chaired by German Green MEP Irene Soltwedel-Schäfer, call for the number of euro coins to be reduced from eight to six in order to allow for significant differences in the size of each piece. The committee says this would make life easier for blind people.

More controversially, it is also calling for a ban on the use of nickel on the exposed face of the new coins in a bid to allay public concern about the risk of allergic reactions to the metal.

EU ministers agreed in July that only the high-value one and two euro coins should contain nickel, after the Swedish government highlighted health fears about its wider use.

The monetary subcommittee initially considered calling for a full ban on nickel, but heeded warnings from the producers and users of vending-machines that it might be difficult to identify false coins if there was no nickel in them at all.

Nickel is currently widely used in the EU. It is found in around 75&percent; of coins now in circulation in the Union. The preliminary results of a study ordered by the European Commission found very few cases of allergies being caused by exposure to coins containing nickel.

Other amendments proposed by the monetary subcommittee which will be voted on next week call for the greater use of stainless steel in coins, suggest the minting of high-value gold 100 euro coins for EU collectors, and make a plea for national messages to be etched on the rim of the new coins.

Consumer groups have questioned the wisdom of having different national designs on one side of the euro coins, warning that this will lead to confusion for users as coins originating in all the member states will circulate freely within the single currency bloc.

But the issue is a highly sensitive one. As the European Commission and national governments step up their efforts to persuade ordinary citizens of the benefits of joining the euro-zone, many believe that national symbols will be important to help convince members of the public to swap their familiar notes and coins for the new currency.

Under the cooperation procedure, ministers have to take the Parliament's view into account if the amendments are passed. But the final decision on the shape of the euro coins rests with them.